The Software and Information Technology Services Industry Development Plans for the 12th Five-Year Plan Period, released last week by China's Ministry of Industry and Information Technology (MIIT), call for the establishment of venture capital funds and equity investment funds to support the development of local and regional software enterprises. The plans call for the development of risk compensation mechanisms to attract private capital, particularly from domestic venture capital funds, to invest in the software and information technology services industries and actively support financing on domestic and international markets by Chinese software enterprises.